07.05.21
The global dyes & pigments market was valued at $30.92 billion in 2015 and is projected to reach $42 billion by 2021, at a CAGR of 5% from 2016 to 2021.
Dyes and pigments are colorants or substances that impart color to textiles, plastics, concrete, and paper.
Dye is a soluble substance that has an affinity to the substances on which it is applied.
Dyes can be classified as acid dyes, vat dyes, direct dyes, and basic dyes.
Pigments are water and oil insoluble colorants that impart color to substances such as paper, plastics, paints, and concrete.
Dyes & pigments have many applications ranging from paints & coatings, textile construction, and printing inks to plastics.
Growth in the dyes & pigments market is partly driven by a turnaround in these key industries and their increasing need in these applications.
The paints & coatings industry is growing significantly because of rising infrastructure.
Asia-Pacific is expected to be a major market for paints & coatings due to increasing population and infrastructure projects.
Thus, dyes & pigments companies can gain a profit margin by providing various types of dyes to cater to the growth in the Asia-Pacific paints industry, thus increasing their revenue and market position.
Raw material suppliers are the first stage of the value chain for dyes products.
Different types of raw materials and technologies are used for the production of dyes including crude oil.
Intermediates are derived from the reaction between aromatic hydrocarbon (obtained from crude oil distillation) and other chemicals.
The final product is obtained from the intermediates in the form of granules known as dyes.
In the case of pigments, some of the major raw materials used for producing pigments include illite, hematite, natural gas, and zincite.
Pigments are obtained from their raw materials via a series of metallurgical or chemical processes.
